Blue Chip Partners LLC Has $22.62 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Blue Chip Partners LLC grew its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,269 shares of the retailer's stock after buying an additional 1,340 shares during the period. Costco Wholesale makes up 2.4% of Blue Chip Partners LLC's portfolio, making the stock its 15th largest position. Blue Chip Partners LLC's holdings in Costco Wholesale were worth $22,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. grew its stake in Costco Wholesale by 1.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer's stock valued at $16,302,000 after buying an additional 273 shares during the last quarter. Keating Investment Counselors Inc. lifted its stake in Costco Wholesale by 43.0% in the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer's stock valued at $1,493,000 after purchasing an additional 795 shares during the last quarter. Cerity Partners LLC lifted its stake in Costco Wholesale by 28.9% in the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer's stock valued at $179,822,000 after purchasing an additional 61,122 shares during the last quarter. Rice Partnership LLC raised its stake in shares of Costco Wholesale by 21.0% during the third quarter. Rice Partnership LLC now owns 11,741 shares of the retailer's stock valued at $6,633,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Rappaport Reiches Capital Management LLC raised its stake in shares of Costco Wholesale by 23.5% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer's stock valued at $538,000 after acquiring an additional 155 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 1.0 %

Shares of COST traded up $7.32 during mid-day trading on Friday, hitting $729.18. 1,524,431 shares of the company traded hands, compared to its average volume of 1,663,722. Costco Wholesale Co. has a 1-year low of $476.75 and a 1-year high of $787.08. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $323.39 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 4.86 and a beta of 0.77. The business has a 50 day moving average of $730.41 and a 200 day moving average of $667.48.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping analysts' consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business had revenue of $58.44 billion for the quarter, compared to analysts' expectations of $59.11 billion. During the same quarter last year, the company earned $3.30 EPS. The business's revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.02. Costco Wholesale's dividend payout ratio (DPR) is presently 30.35%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COST. Tigress Financial raised their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a "buy" rating in a report on Friday, March 15th. Roth Mkm boosted their price target on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Evercore ISI boosted their price objective on shares of Costco Wholesale from $795.00 to $805.00 and gave the company an "outperform" rating in a research note on Thursday, April 11th. Finally, Gordon Haskett cut shares of Costco Wholesale from a "buy" rating to an "accumulate" rating and set a $775.00 price target for the company. in a research note on Wednesday, April 3rd. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $694.48.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Susan L. Decker sold 1,442 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the sale, the director now directly owns 12,395 shares of the company's stock, valued at approximately $8,967,534.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 785 shares of the firm's stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares of the company's stock, valued at $7,228,600. The disclosure for this sale can be found here. Insiders have sold a total of 3,727 shares of company stock worth $2,682,948 in the last quarter. Company insiders own 0.18% of the company's stock.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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